But Liars do figure.
Today's figuring liar is Timothy "Turbo Tax Timmy" Geithner. His lie of the day has to do with unemployment in the
Some will no doubt paint this as positive spin vice a flat lie. They might even have a point, if we were to ignore the overall employment picture for Detroit, the Detroit Metropolitan Area, and the State of Michigan.Did Geithner use Turbo-Tax to calculate Detroit employment?
By Ed Morrissey, Hot AirThe Obama administration has been on a full-court press to sell the American public on the automaker bailouts started by its predecessor but amplified into politically-machinated bankruptcies by the current White House. Last week, Barack Obama hailed Chrysler's announcement that it had repaid the bailout loans -- without mentioning that the payoff came from another government loan to Fiat, and that the Obama administration has already forgiven $4 billion in loans to the automaker. Yesterday, Treasury Secretary Tim Geithner did more spinning in an essay for the Washington Post, claiming that the bailouts have led to a renaissance of jobs in Detroit:
While it remains unacceptably high, Detroit's unemployment has fallen nearly one-third over the past two years. The car companies are leading a comeback in American manufacturing. And while we will not get back all of our investments in the industry, we will recover much more than most predicted, and far sooner.
Well, that's true ... as far as it goes. The jobless rate for Detroit spiked to 15.9% in September 2009 before settling down to April's 11.3%. However, Detroit unemployment was 12.3% in January 2009, when Obama took office, so the actual delta for his entire term is one percentage point. Over a two-year period -- the time frame Geithner uses -- it dropped about three percentage points (from 14.5%), which would be more like a fifth than a third.
But that's still deceptive. Geithner uses these numbers to claim some sort of hiring renaissance in Detroit, but the employment numbers tell a different story. When Obama took office, there were 713,300 jobs in metropolitan Detroit. That bottomed out to 680,900 in June 2009, after the politically-machinated bankruptcies pushed by the Obama administration. The latest figures for April 2011 show 695,200 jobs in Detroit, an overall drop of 18,000 jobs. For the wider Detroit area, the job level started at 1.7822 million in January 2009, and now stands at 1.7398 million in April 2011, a drop of more than 43,000 jobs. Statewide, jobs declined from 3.9488 million in January 2009 to 3.9119 in April 2009.
So... Either Secretary Geithner is grossly incompetent and unfit to hold his office, or he's lying through his teeth and counting on a complacent LSM to not point out that "good news" like this makes a full on double dip recession or flat out depression in our near future seem likely.
So who are you going to believe? Turbo Tax Timmy or your lying eyes?
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Filed under:
Economics, Obama Regime
Tags: detroit, employment, Geithner, liar
Comments (17)
Ed, Rodney, don't you under... (Below threshold)1. Posted by epador | June 1, 2011 4:34 PM | Score: 7 (7 votes cast)
Ed, Rodney, don't you understand? If we just FEEL like we're doing better we will be doing better (at least until after the next election when another disaster will occur that will need draconian measures to save ourselves further). So it really is OK to lie now.
1. Posted by epador | June 1, 2011 4:34 PM |
Score: 7 (7 votes cast)
Posted on June 1, 2011 16:34
2. Posted by iwogisdead | June 1, 2011 4:52 PM | Score: 5 (5 votes cast)
The market doesn't believe that "the car companies are leading a comeback in American manufacturing." Ford and GM lost about 5% in today's dump. The rest of the summer could be very interesting.
2. Posted by iwogisdead | June 1, 2011 4:52 PM |
Score: 5 (5 votes cast)
Posted on June 1, 2011 16:52
3. Posted by Sep14 | June 1, 2011 4:56 PM | Score: 6 (6 votes cast)
Timmy fails to pay taxes just like Barry fails to create jobs. And both fail to tell the truth.
Its all in the 'nuanced' meanings of 'jobs creation' and 'community outreach' otherwise known as Stimulatis corrupYouboughtUs..
3. Posted by Sep14 | June 1, 2011 4:56 PM |
Score: 6 (6 votes cast)
Posted on June 1, 2011 16:56
4. Posted by Don L | June 1, 2011 4:58 PM | Score: 5 (5 votes cast)
Please no more accomodating their lies by using their deflective words -they are lying -not spinning -they slaughter babies, not enjoy "Choice,"they are against God -not intellectual atheists. They are Marxists not liberals etc. They divide and conquer" not the "we care" compassionate people - they will crush personally any competition - and are not tolerant, they'll never compromise unless it is you that bends to their wishes. They not only never miss an opportunity to use a crisis -they create the crisis and blame us.
We lose because we allow them to write the music, own the batons, and we play their notes, and pick up their scrapes after. .
4. Posted by Don L | June 1, 2011 4:58 PM |
Score: 5 (5 votes cast)
Posted on June 1, 2011 16:58
5. Posted by Tina S | June 1, 2011 4:58 PM | Score: -12 (14 votes cast)
Oh, Chrysler might have additional reasons, but her stated reason is always valid. It might not be the whole truth, but it is true.
5. Posted by Tina S | June 1, 2011 4:58 PM |
Score: -12 (14 votes cast)
Posted on June 1, 2011 16:58
6. Posted by Sep14 | June 1, 2011 7:20 PM | Score: 6 (6 votes cast)
Tina s-
"but her stated reason is always valid. It might not be the whole truth, but it is true."
I bet you fell for Bill weeniebob Schleekmeister's interpretation of what the word is 'is' too.
6. Posted by Sep14 | June 1, 2011 7:20 PM |
Score: 6 (6 votes cast)
Posted on June 1, 2011 19:20
7. Posted by Tsar Nicholas II | June 1, 2011 7:35 PM | Score: 6 (6 votes cast)
Since when to facts even apply to Democrats??
7. Posted by Tsar Nicholas II | June 1, 2011 7:35 PM |
Score: 6 (6 votes cast)
Posted on June 1, 2011 19:35
8. Posted by Rodney Graves
| June 1, 2011 7:42 PM | Score: 4 (4 votes cast)
Tsar Nicholas observes (@ 7):
Once they get far enough from the Capitol Dome the real world seems to start influencing all but those from California.
8. Posted by Rodney Graves
| June 1, 2011 7:42 PM |
Score: 4 (4 votes cast)
Posted on June 1, 2011 19:42
9. Posted by jim m | June 1, 2011 7:50 PM | Score: 4 (4 votes cast)
Either Secretary Geithner is grossly incompetent and unfit to hold his office, or he's lying through his teeth
Why does this have to be an either/or?
9. Posted by jim m | June 1, 2011 7:50 PM |
Score: 4 (4 votes cast)
Posted on June 1, 2011 19:50
10. Posted by jim m | June 1, 2011 8:03 PM | Score: 5 (5 votes cast)
we will recover much more than most predicted, and far sooner.
"Much More"? Well, even a couple of dollars is "much more" than nothing. And "Far sooner"? Ten years from now will still be "far sooner" than never.
Perhaps we should look at the bright side. In another decade or so if Detroit's population keeps dropping like a stone, unemployment there will reach zero (right along with the population).
10. Posted by jim m | June 1, 2011 8:03 PM |
Score: 5 (5 votes cast)
Posted on June 1, 2011 20:03
11. Posted by Jay Guevara | June 1, 2011 8:41 PM | Score: 4 (4 votes cast)
Let's see, economy in the crapper, unemployment sky high, housing market a disaster area ... hmmm. Looks like we need more socialism! Cuba and North Korea have shown us the way to prosperity!
11. Posted by Jay Guevara | June 1, 2011 8:41 PM |
Score: 4 (4 votes cast)
Posted on June 1, 2011 20:41
12. Posted by GarandFan | June 1, 2011 8:43 PM | Score: 4 (4 votes cast)
"So who are you going to believe?"
Certainly not Turbo Tax Timmy.
12. Posted by GarandFan | June 1, 2011 8:43 PM |
Score: 4 (4 votes cast)
Posted on June 1, 2011 20:43
13. Posted by Jay Guevara | June 1, 2011 9:12 PM | Score: 3 (3 votes cast)
In another decade or so if Detroit's population keeps dropping like a stone, unemployment there will reach zero (right along with the population).
Only the Democrat vote will remain unaffected.
13. Posted by Jay Guevara | June 1, 2011 9:12 PM |
Score: 3 (3 votes cast)
Posted on June 1, 2011 21:12
14. Posted by Rodney Graves
| June 1, 2011 9:13 PM | Score: 2 (2 votes cast)
jim m @ 9,
I suppose the exclusive "or" is the default unless specified otherwise.
14. Posted by Rodney Graves
| June 1, 2011 9:13 PM |
Score: 2 (2 votes cast)
Posted on June 1, 2011 21:13
15. Posted by Sep14 | June 1, 2011 9:22 PM | Score: 2 (2 votes cast)
In another decade or so if Detroit's population keeps dropping like a stone, unemployment there will reach zero (right along with the population).
Then we will truly see the fruits of Hope and Change.
15. Posted by Sep14 | June 1, 2011 9:22 PM |
Score: 2 (2 votes cast)
Posted on June 1, 2011 21:22
16. Posted by Sep14 | June 1, 2011 9:41 PM | Score: 2 (2 votes cast)
Wait...
We already see the fruits of Hopeless change, Duh? Its the economy stupid! We will then see the end game of liberal plantation politicians.
Suck em' dry then cut and run.
16. Posted by Sep14 | June 1, 2011 9:41 PM |
Score: 2 (2 votes cast)
Posted on June 1, 2011 21:41
17. Posted by retired military | June 2, 2011 6:59 AM | Score: 0 (0 votes cast)
With the way BHO is going the (What we considered) high unemployment rates of the Eurosocialist countries might seem like a workers paradise compared with what the US will have to deal with.
BHO said he wants everyone to be on a level playing field. He didnt mention that it would be down 20 feet below the gutter (execept for the liberal elite of course).
BHO "bringing us down to the same low level, one financial decision at a time"
17. Posted by retired military | June 2, 2011 6:59 AM |
Score: 0 (0 votes cast)
Posted on June 2, 2011 06:59